was not bad paper when originated at the beginingThen why sell it if it is "good" paper with a satisfactory return? Selling the paper reduces the rate of return to the seller. Why the need for insurance to cover "excess" losses? Why the need for "AAA" ratings if it is "good" paper? The investment banks would unconditionally guarantee and back the paper they sell as investments to others--right?Barny Frank set the criteria for loan requirements, banks had to use itTell us which investment banks used those criteria. How were they "forced" to use that criteria? Investment banks created the vast majority of the bad paper.... So, tell us your tall tales.
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